Table 5.

Baseline results.

			Carbon Tax +
	Carbon tax		Biofuel policy
Variable	Quantity	Price	Quantity	Price
Agricultural sector: production
Total	−0.003	0.034	−0.045	−0.0
Biofuels	0.717	0.034	−1.008	−0.0
Food	−0.032	0.034	−0.007	−0.0
Agricultural sector: inputs
Land-share agriculture	0.012	0.02	−0.037	−0.005
Energy in agriculture	−0.293	0.609	−0.355	0.618
Fertilizer production	−0.021	0.065	−0.062	0.033
Water production	0.009	0.005	−0.036	−0.02
Energy-related sectors and services
Fossil-fuel in energy services	−0.368	0.636	−0.362	0.641
Fossil-fuel in fertilizer prod.	−0.135	0.636	−0.184	0.641
Fossil-fuel in fisheries	−0.211	0.636	−0.223	0.641
Energy services	−0.319	0.609	−0.32	0.618
Energy in manufacturing	−0.321	0.609	−0.318	0.618
Renewables production	0.466	0.173	0.475	0.176
Extractive sectors
Fossil-fuel extraction	−0.364	0.636	−0.359	0.641
Phosphate extraction	−0.007	−0.005	−0.049	−0.033
Other
Land-share timber	0.001	0.02	0.021	−0.005
Land-share natural	−0.014	0.02	0.043	−0.005
Fisheries production	−0.102	0.091	−0.112	0.085
Timber production	0.003	0.01	0.018	0.009
Manufacturing	−0.031	0.029	−0.026	0.034

Percentage change in key model variables from two policy scenarios, a one-percent increase in the carbon tax and a two-tier policy consisting of a one-percent increase in the carbon tax together with a one-percent reduction of biofuel subsidies.